CALGARY, Jan. 31, 2017 /CNW/ - Canadian Pacific
Railway Limited (TSX: CP) (NYSE: CP) today announced that
Keith Creel has assumed his new role
as president and chief executive officer, becoming the
17th person to lead the company since 1881.
"I am humbled, honoured and blessed to be leading CP," Creel
said. "I look forward to working closely with employees, customers,
shareholders, government and community leaders, and other key
stakeholders as we continue to build the iconic CP brand – a brand
built on service, safety and doing what we say we will do."
Creel was appointed president and chief operating officer in
February, 2013 and joined the CP Board of Directors in May of 2015.
Creel previously served as the executive vice president and chief
operating officer of Canadian National Railway Company.
"This transition has been planned since Keith's arrival back in
2013 and we are confident in his abilities to lead the company,"
said Andrew F. Reardon, Chairman of
the Board. "Under Hunter Harrison's
leadership, CP built a strong foundation for future success; that
foundation, together with Keith's passion for railroading,
operational expertise and commitment to customer service and
safety, positions the company well for many years to come."
For 11 consecutive years, CP has been the safest Class 1
railroad in North America,
measured by train-accident frequency.
"As a result of our dedication to safety, in 2016 we celebrated
our lowest train accident frequency ever," Creel said. "Still, we
acknowledge that one incident is too many and we will continue to
hold ourselves and others accountable when it comes to safety."
Under Creel's leadership, CP will continue to find safer, more
efficient ways to connect customers to domestic and global markets,
and will continue to play a prominent role in connecting
communities in both Canada and the
U.S.
"To be leading such an iconic company as Canada celebrates its 150 anniversary, is
truly special," Creel said. "CP has a proud history and I am
privileged to stand alongside today's railroaders to build an even
brighter future. I am excited to connect with employees, customers
and communities across the continent as we continue to safely move
the North American economy."
Forward Looking Statement
This news release contains certain forward-looking information
within the meaning of applicable securities laws relating, but not
limited, to our operations, priorities and plans, anticipated
financial performance, business prospects, planned capital
expenditures, programs and strategies. This forward-looking
information also includes, but is not limited to, statements
concerning expectations, beliefs, plans, goals, objectives,
assumptions and statements about possible future events,
conditions, and results of operations or performance.
Forward-looking information may contain statements with words or
headings such as "financial expectations", "key assumptions",
"anticipate", "believe", "expect", "plan", "will", "outlook",
"should" or similar words suggesting future outcomes. To the extent
that CP has provided guidance using non-GAAP financial measures,
the Company may not be able to provide a reconciliation to a GAAP
measure, due to unknown variables and uncertainty related to future
results.
Undue reliance should not be placed on forward-looking
information as actual results may differ materially from the
forward-looking information. Forward-looking information is not a
guarantee of future performance. By its nature, CP's
forward-looking information involves numerous assumptions, inherent
risks and uncertainties that could cause actual results to differ
materially from the forward looking information, including but not
limited to the following factors: changes in business strategies;
general North American and global economic, credit and business
conditions; risks in agricultural production such as weather
conditions and insect populations; the availability and price of
energy commodities; the effects of competition and pricing
pressures; industry capacity; shifts in market demand; changes in
commodity prices; uncertainty surrounding timing and volumes of
commodities being shipped via CP; inflation; changes in laws and
regulations, including regulation of rates; changes in taxes and
tax rates; potential increases in maintenance and operating costs;
uncertainties of investigations, proceedings or other types of
claims and litigation; labour disputes; risks and liabilities
arising from derailments; transportation of dangerous goods; timing
of completion of capital and maintenance projects; currency and
interest rate fluctuations; effects of changes in market conditions
and discount rates on the financial position of pension plans and
investments; and various events that could disrupt operations,
including severe weather, droughts, floods, avalanches and
earthquakes as well as security threats and governmental response
to them, and technological changes. The foregoing list of factors
is not exhaustive. These and other factors are detailed from time
to time in reports filed by CP with securities regulators in
Canada and the United States. Reference should be made to
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Forward-Looking
Information" in CP's annual and interim reports on Form 10-K and
10-Q. Readers are cautioned not to place undue reliance on
forward-looking information. Forward looking information is based
on current expectations, estimates and projections and it is
possible that predictions, forecasts, projections, and other forms
of forward-looking information will not be achieved by CP. Except
as required by law, CP undertakes no obligation to update publicly
or otherwise revise any forward-looking information, whether as a
result of new information, future events or otherwise.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway
in Canada and the United States with direct links to eight
major ports, including Vancouver
and Montreal, providing North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise.
Visit cpr.ca to see the rail advantages of CP.
SOURCE Canadian Pacific